Asus will most likely produce the next Nexus 7, with an expected storage size of 16GB or 32 GB. Speculation of an affordable 7-inch LCD panel to keep the price in the ballpark of the first Nexus 7 is highly likely.

Expect either a Wi-Fi only or 3G version of the tablets, while we cross our fingers for a 4G variant. Two cameras will be included for the new slate; a front 1.2-megapixel and rear 5-megapixel shooter.

The new Snapdragon 600 chip will most likely run the show on the next Nexus 7, and surprisingly, might be armed with 4GB of RAM. On the software side, it should be running Android version 4.3 out of the box.

Fact or fiction? All that will be confirmed during the Google event at San Francisco on July 24.